Why such a big increase in the demand for Harrow homes?
Here in the Harrow office, we have found that one of the best ways to get a picture of what is happening in the local market is to look at the statistics. However, we also derive a huge proportion of our local market expertise just by chatting to the buyers and sellers we see every day.
The one thing that's becoming obvious is that the brand of Harrow is growing into something much bigger and better than used to be the case. We only have anecdotal data, but it seems pretty clear that the sphere of influence our part of the world has for buyers is expanding. It's this burgeoning demand which has been responsible for the fact that prices here have risen, on average by 10.8 per cent per year since 2000.
For those of us that have lived here for a long time, it is easy to forget how amazing the area is. We've got it all in terms of high-quality housing stock, a fantastic mix of people, amenities, transport accessibility - you name it. As work patterns change, and five days per week in the office becomes rarer and rarer, so too do attitudes towards choosing a place to live.
With more and more positive property market data coming through every day and sentiment on the ground going from strength-to-strength, we think that the next few years will be very kind to anyone who owns a property here. If you're thinking of getting on the housing ladder, upsizing downsizing or investing, make sure you work with a local market expert and you can't lose.
Sales levels in recent months by type
The property market fluctuates on a seasonal basis, and this is particularly the case for sales rates. This chart shows how the market has changed over the course of the last few months. The most recent periods are estimates based on the previous year’s pattern.
Fluctuations in prices over recent years
It won't come as any massive shock that houses are generally worth more than flats in our area. However, when it comes to the movements over time, these two broad types of property do not always behave similarly. Here we see how flats and houses have varied in price.
Measuring commuting distance might seem a little obscure but it actually offers a particularly good insight into the character of any local housing market. For example, commuter towns tend to really come alive at the weekends but are quieter in the week. Areas where most people work locally will have a stronger community feel day-to-day.